At current prices, 15% of global gold miners probably are now underwater, according to Nomura's Tyler Broda, who also predicts gold could fall to as low as $1,000/oz. this year. Companies relying on a single asset and those in Africa, already struggling with deteriorating geopolitical risk, will find it more difficult to convince banks to fund projects, Broda says.

SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation currently operates three gold mines: the Mana Mine in Burkina Faso, the Samira Hill Mine in Niger and the Kiniero Mine in Guinea. SEMAFO is committed to evolve in a...More